Evolv Technologies Holdings

EVLV

Security & Protection Services · Industrials

Price

$5.66

-0.12 (-2.08%)

Market Cap

$1.02B

Exchange

NASDAQ

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Share count rising — dilution

+10.5% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 152.4M (2021) → 168.4M (2025)

Evolv Technologies Holdings, Inc. provides artificial intelligence (AI)-based touchless security screening systems. Its products include Evolv Express, a touchless security screening system designed to detect firearms, improvised explosive devices, and tactical knives as visitors walk through at a normal pace; Evolv Insights that provides self-serve access, insights regarding visitor flow and arrival curves, location specific performance, system detection performance, and alarm statistics; and E

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+44.7% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-185.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$21M/ year

↓ Declining (-12% vs prior year)

14.1% of revenue

3.5x the sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

5.1%ownership

Insiders own a meaningful stake in the company

Cash Runway

~2 years

$56M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Adequate runway but may need to raise capital within 2 years

Revenue accelerating

Evolv Technologies Holdings grew revenue 45% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

50.9%

Healthy — 50.9% gross margin

Operating Margin

-18.3%

Losing money on operations — -18.3%

ROCE

-5.2%

Weak — -5.2% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+40.5%

Fast-growing sales (40.5% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

-6.6%

Burning cash (-6.6%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.35

Conservative — low debt load (0.35)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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